The Alzheimer’s Association Greater Indiana chapter is offering a new financial program called Money Matters: A Caregiver’s Guide to Finances.
The free virtual program, designed for dementia caregivers and anyone facing a chronic illness, will start at 11 a.m. April 19 and feature a special guest from Edward Jones.
“We know that tax season is a time when many families think about their financial situation, and this program will help them consider the potential impact of Alzheimer’s and other forms of dementia, one of the costliest diseases in America,” said Stephanie Laskey, program director for the Alzheimer’s Association Greater Indiana chapter. “While dementia is the focus of the program, it contains information that can help families facing a number of conditions and those who simply want to be prepared for anything.”
The program will cover a range of topics, including the benefits of early financial planning, facts about the financial impact of Alzheimer’s and other dementia, tips for managing someone else’s finances and common signs that a person is struggling to manage money. Attendees also can learn how to avoid financial abuse and fraud and receive tips on planning for the cost of care, including in-home health, adult day services and residential care.
According to the 2022 Alzheimer’s Association facts and figures report, the total lifetime cost of care for someone with dementia is estimated at more than $377,000. Seventy percent of that cost is borne by family caregivers in the forms of unpaid caregiving and out-of-pocket expenses for items ranging from medications to food for the person with dementia.
In 2021, it is estimated that dementia caregivers bore nearly twice the average out-of-pocket costs of nondementia caregivers.
“The cost of this disease is truly staggering,” Laskey said. “It can have a devastating impact on a family’s financial well-being. We want to arm Hoosier caregivers with the information they need to minimize that impact and help ensure their loved one is cared for as the disease progresses.”
To register, visit alz.org/indiana/programs or call the Alzheimer’s Association 24/7 helpline at 800-272-3900.